SoftBank-Backed Hotel Chain Oyo To File For $1.2B IPO

Another unicorn startup backed by SoftBank Vision Fund is about to go public.

Oyo Hotels plans to file for an initial public offering next week in Mumbai, the financial capital of Oyo's home country of India, Reuters reports. The company is targeting between $1B and $1.2B in fundraising to come from the IPO, which will include both the issuance of new common stock and sales of stock from existing shareholders.